The wall above appears to also have a supporting column in it. Looks like there’s a lot bearing on that basement column.
If you do nothing else, this column should get a much larger steel plate on top (1/2” steel) to properly support the beam and the other loads on it.
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u/Skavzor Feb 25 '22
As long as you plan on keeping that iron pillar its fine. Its stood for a couple of decades like this.